Earlier in March (2016) the Bank of Industry (BoI) invited young Nigerians to participate in its Youth Entrepreneurship Support (Yes) Programme. The YES programme is designed to identify and support aspiring entrepreneurs, Nigerians within the ages of 18 – 35.
Ekocity Magazine gathered that over 40,000 applications were received, amongst which 7000 successful candidates were drawn by a seven man panel to proceed to the next stage of the competition.
The selected candidates are required to undertake an 8-months online training that will further improve their business skills, enable them develop an effective business model and prepare them to access the Bank of Industry loan.
The YES programme is expected to support the establishment and/or expansion of an estimated 1,200 enterprises promoted by Nigerian youths across the country. The scheme is expected to create a minimum of 6,000 direct jobs and 30,000 indirect jobs annually, totaling 36,000 jobs.
The Second Stage of the training will be flagged off on July 13 at The Eko Hotels.
OVERVIEW OF YES PROGRAMME
The YES-Programme has the following broad objectives:
- To create an interactive learning platform to train young aspiring entrepreneurs in Entrepreneurship, Business Management and Technical Skills that will ultimately translate into improved efficiency and productivity.
- To kindle the entrepreneurial spirit of the youths.
- To act as an incubation center where business ideas are nurtured to their full potential as well as entrenching global best practices by inculcating a culture of innovation-driven entrepreneurship and ethics in the programme participants.
- Promotion of self-employment among graduates of institutions of higher learning, thereby changing their job-seeking mindset.
- To deepen financial inclusion by de-risking the young aspiring entrepreneurs and making them eligible for small business loans to be provided by BOI
COMPONENTS OF THE YES-PROGRAMME
The YES-Programme comprises the following:
- Eight (8) weeks extensive online Entrepreneurship and Business Management training which has the ability to test participants’ understanding and track their progress.
- Five (5) days in-class Entrepreneurship and Business Management training (5 modules).
- Technical skills training in partnership with the various technical training and vocational institutes in the country.
- Financing the businesses by BOI under its SME Cluster initiative in consonance with the United Nations Economic Commission for Africa’s Commodity-based Industrialisation Strategy.
Ekocity wishes the participants a successful programme and urge all the beneficiaries to take full advantage of the opportunities the programme offers.